Jones Soda announces divestiture of cannabis beverage business

Jones Soda (JSDA) announced that it has sold its cannabis beverage business, including all related cannabis-specific assets under the Mary Jones brand, to MJ Reg Disrupters, a privately held company. The transaction is part of Jones’ previously announced strategy to streamline operations and focus on its core soda offerings, modern functional beverages, and emerging adult beverage category. Pursuant to the terms of a share purchase agreement dated June 19, 2025, entered into between the Company, MJ Reg and the Company’s subsidiaries that hold its cannabis beverage business, as amended, all of the equity interests in the Cannabis Subsidiaries were sold to MJ Reg for three million dollars in aggregate consideration consisting of $489,399 in cash that was paid on the June 19, 2025 closing date of the transaction, plus $2,510,601 in the form of a promissory note with the following payment schedule, $510,601 due on June 27, 2025, $500,000 due on June 19, 2026, $750,000 on June 19th, 2027 and $750,000 on June 19, 2028.